Tax deduction at source | Advance Tax | Corporate Tax planning | Deduction | Avyan Ias

Deductions in taxation refer to certain expenses or amounts that can be subtracted from a taxpayer's gross income, reducing their taxable income and ultimately lowering the amount of tax they owe. Deductions serve as a form of tax relief, often aimed at incentivizing specific economic activities, such as charitable donations or business investments. Understanding various deductions available under tax law is essential for individuals and businesses to optimize their tax liability.
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